Art Peck has been employed at Gap Inc. since 2005. His first position at the organization was as Vice President of Strategy and Operations. He has served as the Chief Executive Officer of Gap since 2015. The Gap is an American company and a leading retailer of apparel and accessories for women, men, and children.
In his role as Vice President, Art Peck was responsible for the domestic and international strategic planning of Gap Inc. He helped to expand and steer the corporate strategy of the firm in a new direction internationally. Art was in favor of operating some of their overseas locations as franchises in the mid 2000’s. He believed that this would be beneficial to the company’s foreign operations. It would further allow retailers that were local to the region to independently own and operate their own Gap retail stores. The business strategy was adapted by the organization, and it produced good results for a long period of time.
Art Peck took part in the launch of their innovative 2006 Product Red campaign. The concept was for Gap Inc. to partner in the campaign with other major retailers. The list included Converse, Nike, Apple, and other brands. The organizations joined together to help increase health awareness particularly in the fight against AIDS. Art Peck assumed the role of CEO several years later.
At the height of its popularity, the clothing firm experienced a continuous level of growth and profitability. In these more recent times, Gap Inc. is struggling to maintain profitability in many of its locations. The firm recently announced its intention to possibly close hundreds of retail stores in a variety of locations. Mr. Peck, on behalf of Gap Inc., indicated that this slowdown is not so much due to the retailer’s merchandise or price point, but rather it is more likely because of its many underperforming store locations in some areas. His intention for the organization is to focus more on an effort to increase profitability and less on overall growth now. This report was discussed at length during the firm’s third quarter interactions with analysts. He believes that the chain is no longer a dominating factor in the casual apparel and jeans market as it enjoyed in the 1990’s. The retail chain operated over 1,100 stores at that time in North America alone.
Art Peck graduated from California-based Occidental College in 1977. He earned an MBA at Harvard Business School. Art is married and has four children.
